This Week in Startups E1065 AMA: Slice CEO Ilir Sela answers questions from founders: tips on selling into scattered markets (like Mom & Pop shops), COVID’s impact on the restaurant industry, scaling Slice’s $43M Series C & more!
May 21, 2020
49:21
Slice CEO Ilir Sela answers questions from founders: tips on selling into scattered markets (like Mom & Pop shops), COVID's impact on the restaurant industry, scaling Slice's $43M Series C & more!
Join the TWiST Slack: https://launchevents.typeform.com/to/kLq5Bi
Check out Slice: https://slicelife.com/
Follow Ilir: https://twitter.com/IlirSela
1:05 Knyck: You mentioned Slice being a platform to provide the technology and buying power of scaled companies to small pizza businesses. Do you think that mom and pop stores in other industries like retail or services could use a similar platform, or is this type of structure specifically fitted for the economics of the pizza industry?
3:32 Michael: How do you see the restaurant industry changing in NYC post-COVID, and where do you see the growth opportunities to create a new type of offering?
5:17 Chris: I’m building a loyalty program startup for restaurants. We’re specifically targeting non-chain ethnic restaurants and customers who may have ethnic nostalgia for cultural foods. What do you think the opportunity looks like nationwide for this demographic? Are most restaurants using mainstream food ordering apps already, or is there a large segment of ethnic restaurants who are off-grid?
9:01 Graham: Mom & pops are such a scattered customer base. Can you shed some light on how you started to get momentum in the early days as a small business yourself? Did early customers have any trust issues with something as important as payment?
14:22 Laura: What is the biggest point of friction you have with adding new pizzerias to Slice? Do you experience many/any pizzerias that don't see the benefit of joining the Slice community? If so, how do you handle these?
18:50 Henry: Have you thought of doing the same for other ethnic food restaurants like Chinese, Indian, Thai etc. and what challenges do you foresee? What would be your approach to tackle?
22:04 Matt: With all the vacant retail that's about to become available, have you thought about helping pizza brands expand into ghost kitchens or helping existing pizzerias launch virtual brands (a la Chuck E Cheese)?
24:33 Ian/Andrew (similar questions): What is this funding round helping your business and platform do for the Pizza shops and their customers? How do you plan on scaling your $43M Series C? How have your plans changed since Slice has gone mostly remote?
31:10 Charles: Please expand on the apparent disparity in pricing across platforms/instore. How can food often be cheaper through a middleman? Our family often finds the most frictionless experience for our regular pizza place is to call in as it's often a single dish. How can this be simplified further? One push pizza?
37:58 Matt: Can you speak to "why pizza” and not Chinese food? At the end of the day, are you limiting yourself by picking one category?
40:32 Mahreen: Curious to know more about Slice's marketing. What marketing channels have been most effective for your platform (in acquiring both customers/new businesses)?
42:14 Ian: What response did you get from companies to sign up, was the take up easy? Or did you have to convince them in a specific sales pitch, how did you frame it?
43:51 Presh: You seem to have a curated following list on Twitter, curious to know your favorite accounts to follow that have impacted your business thinking.. top 5 accounts you recommend following?
45:31 Presh: Where does Slice need to be in order to see an IPO?
47:31 Ian: What are your plans to develop your branding and web/mobile app
Join the TWiST Slack: https://launchevents.typeform.com/to/kLq5Bi
Check out Slice: https://slicelife.com/
Follow Ilir: https://twitter.com/IlirSela
1:05 Knyck: You mentioned Slice being a platform to provide the technology and buying power of scaled companies to small pizza businesses. Do you think that mom and pop stores in other industries like retail or services could use a similar platform, or is this type of structure specifically fitted for the economics of the pizza industry?
3:32 Michael: How do you see the restaurant industry changing in NYC post-COVID, and where do you see the growth opportunities to create a new type of offering?
5:17 Chris: I’m building a loyalty program startup for restaurants. We’re specifically targeting non-chain ethnic restaurants and customers who may have ethnic nostalgia for cultural foods. What do you think the opportunity looks like nationwide for this demographic? Are most restaurants using mainstream food ordering apps already, or is there a large segment of ethnic restaurants who are off-grid?
9:01 Graham: Mom & pops are such a scattered customer base. Can you shed some light on how you started to get momentum in the early days as a small business yourself? Did early customers have any trust issues with something as important as payment?
14:22 Laura: What is the biggest point of friction you have with adding new pizzerias to Slice? Do you experience many/any pizzerias that don't see the benefit of joining the Slice community? If so, how do you handle these?
18:50 Henry: Have you thought of doing the same for other ethnic food restaurants like Chinese, Indian, Thai etc. and what challenges do you foresee? What would be your approach to tackle?
22:04 Matt: With all the vacant retail that's about to become available, have you thought about helping pizza brands expand into ghost kitchens or helping existing pizzerias launch virtual brands (a la Chuck E Cheese)?
24:33 Ian/Andrew (similar questions): What is this funding round helping your business and platform do for the Pizza shops and their customers? How do you plan on scaling your $43M Series C? How have your plans changed since Slice has gone mostly remote?
31:10 Charles: Please expand on the apparent disparity in pricing across platforms/instore. How can food often be cheaper through a middleman? Our family often finds the most frictionless experience for our regular pizza place is to call in as it's often a single dish. How can this be simplified further? One push pizza?
37:58 Matt: Can you speak to "why pizza” and not Chinese food? At the end of the day, are you limiting yourself by picking one category?
40:32 Mahreen: Curious to know more about Slice's marketing. What marketing channels have been most effective for your platform (in acquiring both customers/new businesses)?
42:14 Ian: What response did you get from companies to sign up, was the take up easy? Or did you have to convince them in a specific sales pitch, how did you frame it?
43:51 Presh: You seem to have a curated following list on Twitter, curious to know your favorite accounts to follow that have impacted your business thinking.. top 5 accounts you recommend following?
45:31 Presh: Where does Slice need to be in order to see an IPO?
47:31 Ian: What are your plans to develop your branding and web/mobile app